To solve the higher peak and fat tail phenomenon, immediate memory and asymmetric features, this paper formulate the volatility model of exchange rate returns using the ARFIMA-EGARCH-M model.
为了解决汇率收益率波动中的“尖峰厚尾”、中期记忆和非对称特征，提出了利用ARFIMA - EGARCH - M模型建立汇率收益率波动模型。
Larvae called "bean insect", the old familiar about 90 mm long, head of peak green, the color is deep, the tail end Angle, from the abdomen is first quarter up, both sides have seven to white line.
幼虫叫“豆虫”，老熟的长约90毫米，嫩绿色，头部色较深，尾部有尾角，从腹部第一节起，两侧有七对白色线。
Through the analysis of copper time series' characteristics, we found that copper yield rate time series had peak fat-tail characteristic, volatility clustering characteristic and obvious ARCH effect.
通过对沪铜收益率时间序列特征的分析发现，沪铜收益率时间序列存在尖峰厚尾性和波动集群性，并具有明显的ARCH效应。
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